The problem with nuclear energy is that the free-market fails to deliver it without externalties. Indeed, what is to stop a CEO at a nuclear reactor (or bank) from selling electricity super-cheap, reaping a windfall profit in the short run, and skimping on maintenance/risk management leading to a blow up in the long run? The answer: moral character.
This meltdown, as tragic as it is, won’t stop us from consuming ever increasing amounts of electricity. And as our consumption increases, nuclear will be that risqué option that we will find difficult to ignore. As we go back to nuclear energy, we must be cogent that a strong central regulator is necessary in that environment, otherwise the population will be left holding the bag while the CEO will be laughing all-the-way to the bank.
Business Insider Emails & Alerts
Site highlights each day to your inbox.